After the DFL postponed the discussion about Porsche’s entry at VfB Stuttgar until the New Year due to a lack of time, things are a little shaken behind the scenes.
VfB Stuttgart’s Porsche deal continues to be delayed. IMAGO/Sportfoto Pack
A person entrusted with the process raises the question of whether VfB has done its homework with a view to receiving approval from the DFL. It was announced in June that Porsche AG would like to acquire a little more than 10 percent of VfB AG in two tranches worth around 20 million euros each.
At that time, the protagonists around CEO Alexander Wehrle and Supervisory Board Chairman Claus Vogt were confident that the deal could be done by July. The relevant papers have now been signed at the shareholders’ meeting of the Bundesliga club, which is hosting FC Augsburg this Wednesday evening (8.30 p.m., LIVE! on kicker). The Federal Cartel Office also gave its okay.
DFL: Finding a strategic partner has priority
But the green light from the DFL is still missing, at least according to kicker information at Porsche there is nothing in writing from the new league management, consisting of Dr. Marc Lenz and Dr. Steffen Merkel, in front. After the league executive board only briefly dealt with the matter this Tuesday, because further planning to bring in a strategic partner for the league and the hotly debated circumstances surrounding the decision to do so took a lot of time, this year hardly to be expected anymore.
The committee postponed the issue until the new year. This means that the first 20 million tranche will not flow for the time being. For this reason, there should be at least a little jerkiness behind the scenes. That doesn’t mean that the business is in danger, but one obviously wonders why the conditions have not been clarified long ago.
Participation in a maximum of three clubs
The fact that the league association has to deal with the matter at all is due to a rule introduced in March 2015, according to which no company is allowed to hold a stake in more than three clubs in the Bundesliga and 2nd league at the same time or, if it has a stake of 10 percent or more, to withdraw its investments a club needs to concentrate.
The question here is whether Porsche AG should be viewed as separate from the Volkswagen Group because, despite the dominant position of Porsche Holding SE, it is itself listed on the stock exchange. VW currently holds 100 percent of VfL Wolfsburg and, through its subsidiary Audi, 8.33 percent of FC Bayern and 19.9 percent of FC Ingolstadt. The latter currently only plays in the 3rd league, but as a former Bundesliga club, the Schanzer certainly have the right to at least be represented in the lower house.
2023-12-20 14:55:21
#Jerks #Stuttgarts #Porsche #deal
